Joe, a management trainee at a large New York$-$based bank is trying to estimate the real rate of return expected by investors. He notes that the $3-$month T$-$bill currently yields $2$ percent, and consumer prices have been rising steadily at a $1\%$ rate for several years. What should he estimate of the real rate be$?$Joe, a management trainee at a large New York$-$based bank is trying to estimate the real rate of return expected by investors. He notes that the $3-$month T$-$bill currently yields $2$ percent, and consumer prices have been rising steadily at a $1\%$ rate for several years. What should he estimate of the real rate be$?$Joe, a management trainee at a large New York$-$based bank is trying to estimate the real rate of return expected by investors. He notes that the $3-$month T$-$bill currently yields $2$ percent, and consumer prices have been rising steadily at a $1\%$ rate for several years. What should he estimate of the real rate be$?$